NCDEX launches 'Gold Now' platform for forward trade
National Commodity and Derivatives Exchange (NCDEX) on Thursday launched 'Gold Now' platform, an online market for buying and selling gold.
The platform, which has been launched with a focus to reduce dependence on imports, will accept gold recycled in exchange-approved refineries, NCDEX chairman Samir Shah said.
NCDEX will also launch forward contracts within six months for gold coins in 5 gm, 10 gm and 50 gm denominations to be traded at the platform.
The platform, which has been launched with a focus to reduce dependence on imports, will accept gold recycled in exchange-approved refineries, NCDEX chairman Samir Shah said.
NCDEX will also launch forward contracts within six months for gold coins in 5 gm, 10 gm and 50 gm denominations to be traded at the platform.
The delivery unit of the contract is 100 gm and 1 kg. The contract will have six delivery centres - Delhi, Mumbai, Ahmedabad, Hyderabad, Cochin and Chennai. Currently, the contract has Delhi as delivery centre, with the exchange adding one centre every week.
.
The Gold Now platform will complement the government's gold monetisation scheme and 'Make in India' plan.
"Approximately 20,000 tonnes of gold is estimated to be lying with Indian households, temples and trusts. ..
.
The Gold Now platform will complement the government's gold monetisation scheme and 'Make in India' plan.
"Approximately 20,000 tonnes of gold is estimated to be lying with Indian households, temples and trusts. ..
No comments:
Post a Comment